"It's really apparent that album sales have gone down [and] streaming has gone up," said Billboard's vice president of charts and data development Silvio Pietroluongo.

Billboard will incorporate digital consumption using two industry formulas -- one called "Track Equivalent Albums" (TEA) and the other called "Stream Equivalent Albums" (SEA).

TEA equates 10 digital track sales from an album to one physical album sale, while SEA likens 1,500 song streams to one album sale.

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Pietroluongo was clear that album sales would still make up a significant portion of the new top 200, but said the chart would now be a more accurate reflection of all music consumption, from digital tracks to streaming to albums.

"Current artists likely to benefit from this change in methodology include Ariana Grande, Hozier and Maroon 5, among others," Billboard reported, "as their streaming and digital song sales have been outperforming their album sales in recent weeks."

Billboard's renovation comes at a time when a heated debate is taking place about streaming, with many arguing that it is helping the music industry while others suggest it's hurting.